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De minimis: US small parcels loophole closes pushing up Shein, Temu prices
a year ago
- President Donald Trump closed a duty-free loophole for low-value packages, increasing prices for US customers of Chinese online retailers like Shein and Temu.
- The 'de minimis' exemption allowed shipments under $800 to enter the US without duties, benefiting Chinese retailers but criticized for harming American businesses and enabling illegal goods.
- Trump's executive order aims to curb synthetic opioid smuggling, citing deceptive practices by Chinese shippers exploiting the exemption.
- Shein and Temu announced price adjustments due to new trade rules, with US consumers facing higher costs.
- The UK and EU are also reviewing similar duty-free exemptions, potentially leading to price hikes for consumers there.
- Ending the exemption may not significantly curb illegal drugs but could strain US border resources further.
Businesses are rerouting shipments to Canada
a year ago
- Businesses are rerouting U.S.-bound shipments from China to Canada to avoid high tariffs amid the trade war.
- Flexport reported a 50% spike in shipments from China to Canada in mid-April.
- Companies are storing goods in Canadian bonded warehouses to defer duty payments, hoping for tariff rollbacks.
- Experts warn of potential market flooding, increased competition for warehouse space, and threats to Canadian manufacturers.
- Storage costs could outweigh tariff savings, with some estimates at $200-$250 per container daily.
- Limited bonded warehouse capacity in Canada may not sustain the influx long-term.
- Seasonal items like apparel may lose value if tariffs persist, forcing discounted sales in Canada.
- Trade war resolution could lead to a surge in shipments, spiking international shipping costs.
- Some products destined for the U.S. may not be suitable for the Canadian market, leading to potential waste.
Don't Look at Stock Markets. Look at the Ports
a year ago
- Stock markets plunged after Trump announced steep tariffs, with a partial suspension easing the sell-off.
- The Port of Los Angeles reports a significant drop in maritime traffic due to high tariffs on China.
- Trump's erratic tariff policies are disrupting the economy and global supply chains.
- Supply-chain disruptions from tariffs may take 9-12 months to resolve, even if policies change.
- The Port of Los Angeles and Long Beach handle 31% of U.S. container imports/exports, with cargo arrivals expected to drop 35%.
- Cancellations of cargo ship voyages are increasing, with full tariff effects yet to be seen.
- Unlike predictable shocks (e.g., pandemics), Trump's trade war is indefinite and unpredictable, damaging global confidence.
- Tariffs risk atrophying the logistics system, leading to job losses and economic slowdowns.
- The trucking industry is slowing due to reduced cargo, impacting businesses and inventory.
- Financial markets may not yet fully reflect the economic damage from Trump's tariff war.
Donald Trump Says He's Pursuing 100% Tariffs on Movies Produced Outside U.S.
a year ago
- Donald Trump announced a plan to impose a 100% tariff on movies produced in foreign lands, citing runaway production as a national security threat.
- Trump emphasized the need to revive the American movie industry, claiming other countries are luring filmmakers and studios away with incentives.
- Jon Voight, Trump's special ambassador to Hollywood, has been working on a plan to save the entertainment industry, including potential federal tax incentives.
- The movie industry has long advocated for federal tax breaks to keep production in the U.S., as state incentives are seen as insufficient.
- Studios are concerned about potential restrictions on overseas filming, as they rely on incentives from countries like the UK, Canada, and Australia to reduce costs.
- Trump's tariff announcement did not address TV series productions, which heavily film in Canada, or streaming platforms like Netflix and Max that produce outside the U.S.
- Implementation details of the 100% tariff are unclear, including how it would apply to productions with both domestic and international components.
- The movie industry currently has a positive trade balance, with $22.6 billion in exports and a $15.3 billion trade surplus, according to the Motion Picture Association.
- Other countries may retaliate with tariffs on U.S. films, potentially impacting the international box office.
- China recently vowed to reduce U.S. movie imports in response to Trump's tariffs on Chinese goods.
Chinese exporters 'wash' products in third countries to avoid Trump's tariffs
a year ago
- Chinese exporters are rerouting products through third countries to avoid tariffs imposed by Donald Trump.
- FT offers eight hand-picked articles daily for seamless reading via FT Edit.
- Readers can explore various subscription plans available in their country.
- Organizations can opt for digital access with exclusive features and content.
- Over a million readers subscribe to the Financial Times for its quality journalism.
Shipments are cut in half carrying Chinese goods with 145% tariff arriving in LA
a year ago
- American consumers face tough choices due to President Trump's trade war tariffs on Chinese imports.
- Imports from China have dropped by over 50%, with cargo volume at the Port of Los Angeles down 35% compared to last year.
- Retailers and importers report that Chinese goods now cost 2.5 times more than last month due to tariffs.
- Some retailers are storing products in Chinese warehouses instead of importing them to avoid high tariffs.
- Deliveries from China could decline by up to 60%, leading to potential shortages and price hikes for consumers.
- The National Retail Federation predicts a 20% year-over-year drop in U.S. imports in the second half of 2025, with JP Morgan forecasting a 75-80% decline from China.
- Existing stockpiles of goods in the U.S. are running out, with shortages expected by summer if tariffs persist.
- Stockpiling ahead of tariffs widened the U.S. trade deficit to a record $140.5 billion in March.
- Economists expect a temporary surge in imports as pre-tariff shipments arrive, but trade is expected to slow significantly afterward.
Zero ships from China are bound for California's ports, not seen since pandemic
a year ago
- No cargo vessels left China for major West Coast ports in the past 12 hours, a first since the pandemic.
- 41 vessels were scheduled to depart China for the San Pedro Bay Complex six days ago; now it's zero.
- President Trump's trade war tariffs have made it too expensive for many businesses to trade with China.
- Port officials are alarmed by the rapid decline in vessel departures from China.
- The Port of Long Beach reports a 35-40% drop in cargo volume; Los Angeles saw a 31% drop this week.
- The Port of Seattle had zero container ships, another anomaly since the pandemic.
- US and Chinese trade representatives are meeting in Geneva to deescalate the trade war.
- Current tariffs are 145% on Chinese imports to the US and 125% on US exports to China.
- President Trump suggested lowering tariffs to 80%, with final terms to be decided by Treasury Secretary Scott Bessent.
- Consumers may face higher prices or shortages if the trade situation doesn't improve soon.
- 63% of cargo at the Port of Long Beach is from China, down from 72% in 2016 due to trade tensions.
- Maersk reports a 30-40% drop in cargo volume between the US and China compared to normal levels.
- Maersk CEO warns of entrenched adverse effects if trade tensions with China don't deescalate.
Apple helped China become America's biggest tech rival
a year ago
- President Trump initially threatened steep tariffs on trading partners but then offered a 90-day pause.
- China was an exception, facing even higher tariffs.
- Some electronic devices, like smartphones and computers, were exempted from tariffs, sparing US tech companies.
- Apple lost nearly $800 billion in market value, which may explain Trump's sudden policy shift.
US and China Slash Tariffs
a year ago
- The US and China agreed to a 90-day reduction in tariffs to de-escalate their trade war.
- Tariffs will be lowered by 115 percent on both sides during this period.
- US duties on Chinese imports drop from 145% to 30%, and China's tariffs on US goods decrease from 125% to 10%.
- The agreement does not affect the removal of the de minimis exception on May 2nd, which previously allowed duty-free imports under $800.
- Treasury Secretary Scott Bessent stated both nations seek more balanced trade and oppose economic decoupling.
- The 90-day pause aims to facilitate negotiations for a final trade deal.
US and China agree to drastically roll back tariffs
a year ago
- The US and China agreed to roll back tariffs on each other's goods for an initial 90-day period.
- The agreement was announced in a joint statement after marathon trade negotiations in Geneva.
- Global markets reacted positively, with significant gains in US and Asian stock indices.
- The US will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%.
- China will suspend or cancel non-tariff countermeasures imposed on the US since April 2.
- The trade war has negatively impacted both economies, with US GDP contracting and Chinese exports falling sharply.
- Both sides agreed to establish a mechanism for continuing discussions on economic and trade relations.
- The breakthrough was unexpected, as previous statements from both sides had been more confrontational.
Trump warns Walmart: Don't raise prices due to my tariffs
a year ago
- President Donald Trump criticized Walmart for considering price increases due to his tariffs, urging the company to absorb the costs instead.
- Trump claims foreign producers and retailers like Walmart should pay the tariffs, not pass them on to consumers, despite economic analyses suggesting tariffs will worsen inflation.
- Walmart warned that tariffs could lead to price hikes on various products, including bananas and children’s car seats.
- Trump insists his tariffs will eventually boost domestic manufacturing jobs, but companies face tough choices between raising prices or angering the president.
- Consumer sentiment has dipped, with many citing tariffs as a concern for potential inflation.
- Walmart’s CFO noted that tariffs could increase the cost of a $350 car seat by $100 (29%), stressing the limits of absorbing such costs.
- Trump has imposed tariffs on multiple countries and products, including autos, steel, aluminum, and plans to extend them to pharmaceuticals.
- The uncertainty from tariffs has led the Federal Reserve to hold interest rates steady, with Chair Jerome Powell warning tariffs could hurt growth and raise prices.
- Trump continues to pressure the Fed to cut rates, dismissing inflation concerns despite evidence to the contrary.
Trump threatens Apple with a 25 percent iPhone tariff
a year ago
- President Donald Trump threatens Apple with a 25% tariff on iPhones unless production moves to the US.
- Trump warns Tim Cook that iPhones sold in the US must be manufactured domestically, or face tariffs.
- Apple is diversifying production, with FoxConn investing $1.5 billion in a new Indian plant for iPhone displays.
- India currently has a 10% tariff, while China faces 30%, but exemptions apply to most Apple products.
- Apple has pledged $500 billion in US investments, but experts doubt a 'Made in America' iPhone is feasible.
- Steve Jobs once told Barack Obama that manufacturing jobs in the US are unlikely to return.
Tariffs in American History
a year ago
- Tariffs are among the oldest taxes, easy to collect but also led to early tax evasion like smuggling.
- American colonists, especially in Rhode Island, evaded British tariffs extensively, making smuggling a significant activity.
- Rhode Island was the first to break from Great Britain and the last to ratify the U.S. Constitution, fearing federal taxation would curb smuggling.
- Alexander Hamilton's tariffs and financial reforms transformed the U.S. financial situation, with tariffs providing 90% of federal revenue by 1800.
- Tariffs were initially for revenue but later used to protect domestic industries, starting with textiles through industrial espionage by Samuel Slater.
- New England's textile industry flourished post-War of 1812, leading to demands for protective tariffs against British competition.
- Sectional disputes over tariffs between the industrial North and agricultural South became a major threat to the Union.
- The 'Tariff of Abominations' in 1828 and the Nullification Crisis highlighted tensions over federal tariff policies.
- Post-Civil War, tariffs remained high to protect industries and pay war debts, disproportionately affecting the poor.
- The Smoot-Hawley Tariff of 1930 exacerbated the Great Depression by collapsing global trade.
- Post-WWII, GATT and later the WTO significantly reduced tariffs, boosting global trade and reducing poverty worldwide.
- Modern trade disputes, like those under President Trump, focus on leveling unfair tariff differentials with countries like China and Germany.
The TACO trade is the new Trump trade
a year ago
- A new acronym 'TACO' (Trump Always Chickens Out) is trending on Wall Street, referring to market bets on Trump reversing tariff policies.
- The TACO trade suggests buying stocks when Trump announces tariffs, anticipating a market rebound when he retreats.
- Examples include market dips and recoveries following tariff announcements and subsequent delays in April, May, and June 2024.
- Trump dismissed the TACO moniker as 'nasty' and defended his tariff strategy as necessary for negotiations.
- The TACO trade has become a guiding principle for investors, though its effectiveness may wane if trade deals aren't finalized.
- Analysts warn that prolonged tariff delays without resolutions could lead to a US economic downturn.
We Won Our Tariff Case
a year ago
- The US Court of International Trade struck down Trump's 'Liberation Day' tariffs and other IEEPA tariffs, ruling them beyond the scope of executive power.
- The court's decision was unanimous, with judges appointed by both Republican and Democratic presidents agreeing on the ruling.
- The ruling invalidated all tariffs adopted under the International Emergency Economic Powers Act of 1977 (IEEPA), including fentanyl-related tariffs on Canada, Mexico, and China.
- The court emphasized the constitutional separation of powers, stating that Congress has the exclusive authority to impose tariffs, not the President.
- The court rejected the government's claim that the President has unreviewable authority to determine a 'national emergency' justifying IEEPA tariffs.
- A permanent injunction was issued against the implementation of the IEEPA tariffs, blocking them for all importers, not just the plaintiffs.
- The government is expected to appeal the decision to the US Court of Appeals for the Federal Circuit and potentially the Supreme Court.
The Headlines Are Evil, and They're Bringing Us Down
a year ago
- The United States Court of Trade ruled against Trump's tariffs, but headlines misrepresented the scope of the decision.
- The court did not rule that the president can never impose tariffs, only that specific tariffs announced by Trump exceeded his authority.
- Headlines like 'Court says Trump doesn’t have the authority to set tariffs' are misleading and clickbait.
- The court's decision was based on the nondelegation doctrine, requiring Congress to set clear limits on presidential tariff powers.
- Trump's 'worldwide and retaliatory' tariffs were struck down for being too broad, while 'trafficking tariffs' lacked justification under the declared national emergency.
- The administration has appealed the decision, which may go to the Court of Appeals for the Federal Circuit and potentially the Supreme Court.
- Media outlets used sensational headlines to attract clicks, sometimes presenting the same story with different, misleading titles.
The Last 5-Speed Manual in the US Is Gone
a year ago
- The Nissan Versa S, the last U.S.-market car with a five-speed manual, is ending production.
- The manual Versa is a victim of tariffs, as it's built in Mexico and is the least popular model.
- Nissan is focusing on models with the 'strongest business performance' to handle the 25% tariff on Mexican imports.
- Manual transmissions accounted for only 5% of Versa sales in 2024.
- The discontinuation of the manual Versa marks the end of new five-speed manual vehicles in the U.S.
- Six-speed and a few seven-speed manuals will remain, as five-speeds have been phased out by other manufacturers.
- Nissan will no longer be able to market a sub-$18,000 car with the Versa's discontinuation.
- The manual Versa's end is compared to the discontinuation of other outdated technologies, like cassette players.
- The Drive invites readers to share their experiences with the stick-shift Versa.
Yes – Tariffs Have Increased Prices and Inflation in the US
a year ago
- Tariffs in the US have led to increased prices for both imported and domestic goods, contributing to inflation.
- Research by Cavallo, Llamas, and Vazquez (CLV) shows that tariffs caused a 1.2% price increase for imported goods and a 0.6% increase for domestic goods after March 2025.
- Firms employ strategies like inventory front-loading and trade diversion to mitigate tariff impacts, leading to less than full pass-through of costs to consumers.
- Domestic goods prices also rise due to tariffs, either because they use imported components or due to indirect effects like higher wage demands.
- Minton and Somale (MS) found that tariff pass-through in 2018/19 was double the cost, while recent 2025 tariffs show a 50% pass-through, contributing 0.33 percentage points to core goods inflation.
- Long-term effects of tariffs include higher inflation (0.5-0.8 percentage points) and reduced GDP (0.8-1.6%) and real wages (2.7-4.5%).
- Mexican goods saw price fluctuations due to exemptions under the USMCA trade agreement, validating the research methodology.
- Policy uncertainty and firm pricing strategies complicate the immediate impact of tariffs on inflation.
Tracking the money Trump's tariffs are bringing in
10 months ago
- President Trump's tariffs have increased revenue to $75 billion year-to-date, up 85.7% from last year.
- Federal income taxes brought in $2.4 trillion in 2024, dwarfing tariff revenue.
- Tariff revenue spikes may indicate new tariffs or stockpiling before rate hikes.
- A declining gap between years suggests tariffs may be reducing import demand.
- Long-term trajectory shows if tariff revenue stabilizes or declines due to trade shifts.
- Uncertainty from ongoing trade wars can lead to fluctuating and unpredictable tariff revenue.
- Data sourced from Penn Wharton Budget Model and U.S. Treasury Department's daily reports.
PC demand in US plummets on tariff fears
10 months ago
- PC demand in the US has cooled significantly after a spike in Q1 2025.
- IDC suggests the slowdown may be due to anticipation of upcoming import tariffs.
- Lenovo led Q2 2025 with a 24.8% global market share in desktops, notebooks, and workstations.
- Apple saw a 21.4% year-over-year shipment increase, ranking 4th globally.
- HP, Dell, and Asus ranked 2nd, 3rd, and 5th respectively in market share.

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#tariffs

De minimis: US small parcels loophole closes pushing up Shein, Temu prices

Businesses are rerouting shipments to Canada

Don't Look at Stock Markets. Look at the Ports

Donald Trump Says He's Pursuing 100% Tariffs on Movies Produced Outside U.S.

Chinese exporters 'wash' products in third countries to avoid Trump's tariffs

Shipments are cut in half carrying Chinese goods with 145% tariff arriving in LA

Zero ships from China are bound for California's ports, not seen since pandemic

Apple helped China become America's biggest tech rival

US and China Slash Tariffs

US and China agree to drastically roll back tariffs

Trump warns Walmart: Don't raise prices due to my tariffs

Trump threatens Apple with a 25 percent iPhone tariff

Tariffs in American History

The TACO trade is the new Trump trade

We Won Our Tariff Case

The Headlines Are Evil, and They're Bringing Us Down

The Last 5-Speed Manual in the US Is Gone

Yes – Tariffs Have Increased Prices and Inflation in the US

Tracking the money Trump's tariffs are bringing in

PC demand in US plummets on tariff fears